Common Contracts
1 similar Customs Union Agreement contracts
ContractCustoms Union Agreement • February 14th, 2022
A customs union is a type of free trade agreement (FTA) which involves the removal of tariff barriers between members, together with the acceptance of a Common External Tariff (CET) against non-members. Article XXIV, par. 7 of the General Agreement on Tariffs and Trade (GATT 1947) stipulates that “any contracting party deciding to enter into a customs union or free-trade area, or an interim agreement leading to the formation of such a union or area, shall promptly notify the contracting parties and shall make available to them such information regarding the proposed union or area …”.
